Ethereum ICO participant sold 1,500 ETH recently.
Total ETH sold since April 17 is 16,500.
He still holds 13,500 ETH worth nearly $25M.
An Ethereum ICO participant, who had remained inactive for years, is suddenly back in action—selling off large amounts of ETH. Just six hours ago, this early adopter sold 1,500 ETH, worth approximately $1.76 million. This is only the latest in a series of massive sell-offs that began on April 17, ending a long period of dormancy.
In less than three weeks, the investor has offloaded a total of 16,500 ETH, amounting to around $29.35 million in value. These sales have been made at an average price of $1,779 per ETH, indicating strategic timing during market movements.
$29M Cashed Out, But the Wallet Isn’t Empty
Despite the heavy selling, the whale isn’t done yet. On-chain data shows that he still holds 13,500 ETH, valued at approximately $24.82 million at current prices. This suggests the possibility of more sell-offs in the near future, which could impact market sentiment and price action.
The community often watches these ICO-era wallets closely, as their activity can signal changes in long-term holder confidence. Given the scale of ETH being moved, this selling trend might also be a factor in short-term price volatility.
The Ethereum ICO participant sold another 1,500 $ETH($1.76M) again 6 hours ago.
Since ending a long dormancy on April 17, he has sold 16,500 $ETH($29.35M) at an average price of $1,779 and still holds 13,500 $ETH($24.82M).https://t.co/OE35gIUeGS pic.twitter.com/aujCLgHwIV
— Lookonchain (@lookonchain) May 4, 2025
Why This Matters for Ethereum Investors
Movements by large holders, especially early Ethereum ICO participants, are more than just numbers—they can shake market psychology. While this whale has cashed out nearly $30 million, his continued holding of over $24 million in ETH keeps eyes glued to his next move.
This case also reminds investors of the vast sums still held by early adopters, whose decisions can influence liquidity, price stability, and overall market trends.
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